Banking & Finance Dubai’s Emirates NBD launches $272m bond issue By Reuters January 6, 2023 WAM The senior, unsecured bond received more than AED 1.65bn in orders and was launched at 5.125% Emirates NBD, Dubai’s biggest lender, has launched a AED1 billion ($272 million) three-year bond, according to a document seen by Reuters. The senior, unsecured bond received more than AED1.65 billion in orders and was launched at 5.125 percent. Abu Dhabi Commercial Bank, Emirates NBD Capital, HSBC and Industrial and Commercial Bank of China Limited were joint lead managers and joint bookrunners for the local-currency issue. Emirates NBD, nearly 56 percent owned by the Investment Corporation of Dubai, the government’s investment arm, sold $500 million in a five-year bond issue in October which attracted more than $1 billion in orders. Dubai’s biggest bank had reported a 51 percent rise in net profit in the third quarter of 2022 on higher income, including net interest income and from transactions. Emirates NBD made net profit of AED3.8 billion ($1.03 billion) in the quarter from AED2.5 billion in the third quarter of 2021.